Maximum BidWhen placing a bid you have the option of placing a maximum bid which is the most you are prepared to pay for an item. The online system will then bid on your behalf up to your maximum bid but not beyond it. This means that you do not have to keep returning to the website to make sure you stay ahead of other bidders – the system does it for you.

It is possible for you to win this item at far less than your maximum bid amount.

If another buyer indicates a higher maximum than yours, then you will be outbid. We will send you an e - mail if this happens and you may return to the website and increase your maximum bid if you choose.Please note that e-mail can be unreliable at times and we advise you to always check before the close of an auction to see if you have been outbid.

If another buyer indicates exactly the same maximum amount as you have, then you will remain the highest bidder because you placed the earlier bid.

Auction Closing TimeTypically, auctions are over at their posted times. There are some exclusions to this however, if there are any bids on a particular lot within 2 minutes of the close of the auction, that lot will be extended until such time as there are no bids within the last 2 minutes. Lots without a bid in the last 2 minutes will close as scheduled.

There is no limit to the number of times a lot can be extended; this makes the auction work more like a live auction where the bidding doesn’t stop as long as there is still interest in the item, rather than assigning an arbitrary cut - off time.

This means it is a good idea to watch the auction as it nears the closing time and check back often.

Winning an ItemIt is possible to be the highest bidder on an item, but still not win the auction. This is because the vendor that owns the item may set a reserve price. If the item reaches the vendors reserve price it will be sold. However if bidding does not reach the vendor’s reserve then the item will not be sold. We will however negotiate with the high bidder at the close of the auction.

If you are the high bidder and the item meets the vendors reserve you will be sent notification of your success together with your invoice. If you are the high bidder and the item does not meet the vendor reserve you will receive an e-mail advising same and we will contact you to discuss

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About Hassalls

Hassalls is the leading resource provider of independent asset valuation and disposal services in the Australian resources sector.

The Hassalls team is among the most experienced valuers and auctioneers in the marketplace specialising in the valuation and sales of large calibre earthmoving, mining, civil and infrastructure, and pipeline and drilling equipment.